New York, NY
Merrill Lynch is Bank of America's wealth management business, where financial advisors serve clients with more than $250,000 in investable assets, and it held about $4.0 trillion in client balances at December 31, 2025. Merrill Wealth Management's revenue reached $20.7 billion in 2025, up 9% from 2024.
Merrill Wealth Management is one of two businesses inside Global Wealth & Investment Management (GWIM), a Bank of America reporting segment. The other is Bank of America Private Bank. Merrill's advisors sell investment management, brokerage, banking and retirement products. Its Private Wealth Management unit works with the Private Bank on high-net-worth and ultra-high-net-worth clients. Bank of America keeps its principal executive offices in Charlotte, North Carolina. Its tower at One Bryant Park in New York is the only main property the 10-K assigns to GWIM, which shares it with Global Banking and Global Markets. Bank of America had about 213,000 employees at December 31, 2025, with 77% in the US and 23% abroad.
H-1B labor condition applications (LCAs) filed under the employer name Merrill Lynch numbered 53 in calendar 2025, spread over nine US cities. New Jersey worksites made up 24 of them. No city reached 25 filings that year. New York and Charlotte are shown because Bank of America's 10-K names them among its main properties:
The 10-K's main-property list at December 31, 2025 also includes Bank of America Financial Centre in London and Cheung Kong Center in Hong Kong. Both are assigned to Global Banking and Global Markets, not GWIM.
Every 2025 LCA title pairs a corporate rank with a job title. Vice President is the rank on 43 of the 53 filings submitted in calendar 2025. Assistant Vice President appears on 5, Director on 2, and Managing Director, Senior Vice President and Officer on 1 each. Feature Lead - Technology tops the job titles with 7 filings, down from 14 in 2023 and level with 7 in 2024. Technology Services Lead has 5. DevOps Engineer II, Software Engineer II and Software Engineer III have 3 each at Vice President rank. Eight more titles have 2 each, among them Architect, Investment Manager Selection Analyst and Technology Manager. Engineering and quantitative roles dominate the list. Advisor-style titles such as Private Wealth Manager are rare.
Bank of America reports four segments: Consumer Banking, GWIM, Global Banking and Global Markets, with the rest in All Other. Merrill Wealth Management produced about 83% of GWIM's $24.9 billion in 2025 revenue. The Private Bank accounted for the remaining $4.2 billion. The Merrill name also sits on legal entities. Merrill Lynch, Pierce, Fenner & Smith Incorporated is one of two principal US broker-dealer subsidiaries, with BofA Securities, Inc. In Europe, Merrill Lynch International shares that role with BofA Securities Europe SA.
LCA filings under the Merrill Lynch name ran 59 in calendar 2023, 45 in 2024 and 53 in 2025. In federal fiscal 2023 (October 1, 2022 to September 30, 2023), USCIS records 45 continuing H-1B approvals and no initial approvals for the same employer name. Bank of America's headcount stood at about 213,000 at both December 31, 2024 and December 31, 2025. The US share slipped from 78% to 77% between those dates. Employee turnover held at 8% in both 2024 and 2025.